ICICI Life Insurance Limited reported a 26.5% year-on-year increase in profit after tax to ₹760 crore in the first half of FY2027, alongside growth in insurance coverage and continued payouts to families and policyholders.
The company’s new business premium rose 25% to ₹11,821 crore, while its value of new business (VNB) increased 22.3% to ₹1,283 crore, with a margin of 26%. Retail protection grew 47.2% and annuity business expanded 50%, taking retail sum assured up 34.9% to ₹2.32 lakh crore.
Chief Operating Officer Sidharatha Mishra said customer centricity remained at the heart of the company’s approach, with protection and annuity products addressing significant unmet needs in India. He highlighted its diversified distribution network, customer-focused products, service standards and strong risk and capital metrics as important foundations for sustainable growth.
For policyholders and their families, claims performance remained a key indicator of service delivery. The insurer reported a 99.3% claim settlement ratio, with an average turnaround time of 1.1 days for non-investigated claims. It settled death claims worth ₹2,627 crore and paid ₹8,634 crore in maturity and survival benefits during H1-FY2027.
The company also issued 54% of its savings policies on the same day. Its cost-to-premium ratio, excluding GST, declined 30 basis points year-on-year to 18.3%, while the savings cost-to-premium ratio fell 90 basis points to 11.6%.
Recently renamed ICICI Life Insurance Limited, the company is marking 25 years of operations and says it has served more than 20 crore Indians. Its customer-first commitment continues under the promise “HarKalAasaan”.